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Lord King: Scotland ‘could be independent’

March 21, 2017

Media caption”I don’t think there are any major problems in terms of currency” – Lord Mervyn KingScotland “could be an independent country” but would risk taking a hit to its public finances, the ex-governor of the Bank of England has said. Lord King told BBC Newsnight that while questions had been raised over which currency an independent Scotland would use, he did not see “major problems”. But he said it could be a challenge to borrow on the international markets. On Brexit, he said his “biggest worry” was “obsessed” politicians ignoring the trade deficit and NHS funding. Theresa May has said it is not the time for a Scottish independence referendum. But Scotland’s First Minister Nicola Sturgeon said she remained “determined” to have an independence referendum on her timescale. Lord King, who headed the Bank of England between 2003 and 2013, said there are plenty of small countries the same size as Scotland. “It has… the people, it has a capital city, a history and culture, it could be an independent country. The question is, does it want to be given the consequences of it?” he said. “And if the oil price remains low and if they lose the money which is transferred from the rest of the UK to Scotland, then they would have to make that up in their own budget, but that’s a consequence of deciding to be financially independent, you end up paying for yourself. “And it would be a challenge to borrow on the international…more detail

The elections watchdog has recommended a change to the question to be put to voters in a future EU referendum. The Electoral Commission said the wording proposed by ministers - "should the United Kingdom remain a member of the European Union?" - could be perceived as biased to the status quo. It has proposed adding the words "or leave the European Union?" The government has said it will accept the changes although the final decision will be made by Parliament. However, the development has been welcomed by those campaigning to exit the EU. The vote on the UK's membership of…... [read more]

"A vote to leave the EU... could lead to up to a decade or more of uncertainty." So claimed page eight of a 23-page document published by the government setting out what it sees as the process for withdrawing from the European Union. This is not the first and will not be the last such government document - and it is worth remembering the government is not impartial: it is committed to making the case for the UK to stay in the European Union and so will frame its arguments accordingly. For a start, the opening sentence of the executive…... [read more]

The leadership hopeful said the party must "learn the lessons" of last year's Scottish independence referendum. It has been suggested Labour lost Scottish votes because it campaigned with the Conservatives for a "No" vote. Prime Minister David Cameron has promised to hold an in/out referendum on the EU before the end of 2017. 'Pro-European reform' Mr Burnham - who is travelling to Brussels for talks with MEPs and the UK's ambassador to the EU on Wednesday - promised to lead a "Labour Yes" campaign focused on issues such as preventing workers being "undercut" by EU immigrants if elected. He also…... [read more]

David Cameron has come under fire after his defeat in an EU vote over a new European Commission president. Labour leader Ed Miliband said the UK was now "closer to the exit door" in Europe, posing a threat to the economy, and UKIP leader Nigel Farage said the PM had been "utterly humiliated". But Health Secretary Jeremy Hunt said Mr Cameron had been "brave" to take on Europe and the debate had now changed. Sweden and Germany said the PM's call for EU reforms would be considered. Defence Secretary Philip Hammond said Mr Cameron had shown that the British government…... [read more]

Media captionGordon Brown sets out plans to "enhance" powers of the Scottish ParliamentFormer prime minister Gordon Brown has set out a timetable for boosting the Scottish Parliament's powers if voters reject independence. Mr Brown said a "No" vote would be the "starting gun" for Holyrood to be handed greater control over finance, welfare and taxation. It is understood the three main Westminster parties will formally back Mr Brown's proposals on Tuesday. The SNP has said the "No" campaign is in a state of "absolute panic". A Downing Street spokesman said of Mr Brown's announcement: "We welcome this Labour initiative and…... [read more]

As the new majority Conservative government gets down to business, the BBC's Hayley Jarvis looks at the plan for Scotland and what might happen next. What powers are heading to the Scottish Parliament? Media captionThe Queen delivered her speech in the House of LordsDuring the election campaign Conservative leader David Cameron pledged to give more powers to Scotland within 100 days of winning the election. He promised to create "the strongest devolved government anywhere in the world with important powers over taxation". These new powers for Scotland were outlined in the Queen's Speech. The Scotland Bill will be based on…... [read more]

"Should the UK remain a member of the EU?" David Cameron is thought to favour a question along these lines for the referendum on the UK's European Union membership. The prime minister is said to believe this would allow those who want Britain to remain in the EU to style themselves as the Yes campaign. "It is the Bob the Builder philosophy," says Matt Qvortrup, professor of applied political science at Coventry University. Electoral Commission guidelines The referendum question must: be easy to understand be to the point be unambiguous avoid encouraging voters to consider one response more favourably than…... [read more]

In the world of viral news, it's a relative baby - but it's already become so controversial that a Nato spokesperson told BBC Trending that Sputnik is an agent of Russian misinformation. Sputnik was set up in 2014 and puts out podcasts, radio shows and text stories which are shared thousands of times a day on Twitter and Facebook. It's recently been adding international bureaux, including a UK headquarters in Scotland. But at the same time Sputnik has also been on the receiving end of criticism - by US intelligence agencies, the British defence secretary, and now by Nato, who…... [read more]

Media captionMr Salmond believes a decision could be made shortlyFormer first minister Alex Salmond has indicated a decision on whether to hold a new independence referendum could come within weeks. He said the UK government's response to Scottish plans to protect trade with Europe would be crucial. Mr Salmond, the SNP's international affairs spokesman at Westminster, said a rejection of the plans would probably result in an autumn 2018 referendum. The UK government has said it will seek a deal for "the UK as a whole". Speaking on the BBC's Sunday Politics Scotland programme, Mr Salmond said: "The UK government…... [read more]

Media captionEd Miliband's speech in full to the Labour Party conferenceEd Miliband has attempted to snatch the centre ground of British politics by declaring that Labour is now the "one-nation" party. The phrase - normally associated with moderate Tories - was repeatedly used by the Labour leader as he roamed the conference stage at Manchester. He spoke for more than an hour, without notes, in a highly personal speech that contained few new policies. He vowed to unite the nation and lead it through tough economic times. BBC Political Editor Nick Robinson described the speech as an "audacious" attempt to…... [read more]